Megastudies with processing efficiency measures for thousands of words allow researchers to assess the quality of the word features they are using. In this article, we analyse reading aloud and lexical decision reaction times and accuracy rates for 2,336 words to assess the influence of subjective frequency and age of acquisition on performance. Specifically, we compare newly presented word frequency measures with the existing frequency norms of Kucera and Francis (1967), HAL (Burgess & Livesay, 1998), Brysbaert and New (2009), and Zeno, Ivens, Millard, and Duvvuri (1995). We show that the use of the Kucera and Francis word frequency measure accounts for much less variance than the other word frequencies, which leaves more variance to be "explained" by familiarity ratings and age-of-acquisition ratings. We argue that subjective frequency ratings are no longer needed if researchers have good objective word frequency counts. The effect of age of acquisition remains significant and has an effect size that is of practical relevance, although it is substantially smaller than that of the first phoneme in naming and the objective word frequency in lexical decision. Thus, our results suggest that models of word processing need to utilize these recently developed frequency estimates during training or setting baseline activation levels in the lexicon.